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BM 1997-09-03 EcDevCOPPELL ECONOMIC DEVELOPMENT PARTNERSHIP SEPTEMBER 3, 1997 MINUTES The Coppell Economic Development Partnership met at 7:00 p.m. on Wednesday, September 3, 1997 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Bill Herries, Scarlett Hovland, Isabelle Moro, Pat Murphy, Ron Pankey, Gary Sieb, Doug Shaw, Councilmembers Chuck Sturges, Marsha Tunnell, and City Manager Jim Witt. Also attending were Tom Kuhlmann and Michael Peinado with Lincoln Property Company and Sharon Hook with Fritz Companies, Inc. 1. Call to order Ron Pankey called the meeting to order at 7:08 p.m. 2. Approval of Minutes It was moved by Doug Shaw and seconded by Pat Murphy that the minutes of August 6, 1997 be approved as recorded. The motion passed unanimously. 3. Consideration of Request by Fritz Companies, Inc. for Tax Abatement for a 307,872 s. f . office/Warehouse Building located on Fritz Drive Sharon Hooks presented the request for Fritz Companies tax abatement. She provided handouts on objective criteria along with correspondence between the City and Fritz. Sharon explained that the company had some changes in management which caused miscommunication problems. Chad Beach supplied handouts summarizing the results of the econometric model with regards to this proposed development. The Partnership discussed the pros and cons of the abatement. The Partnership agreed it could not take responsibility for the miscommunication caused by change of management within the Fritz Companies. After discussion it was moved by Doug Shaw and seconded by Bill Herries that the request by Fritz Companies, Inc. for tax abatement be denied. The motion passed unanimously. 4. Consideration of Request by Lincoln Property Company for Tax Abatement for a 530,800 s.f. Office, Warehouse and Distribution Development consisting of 4 separate buildings located on southwest corner of Beltline Road and Lakeshore Drive Mr. Tom Kuhlmann and Mr. Michael Peinado presented to the Partnership their request for tax abatement. They provided very detailed information on handouts concerning their request. Currently Lincoln Properties is pursuing leases with various multi -national companies for space at Coppell Business Center II. The tenant mix at Coppell Business Center II should be comparable to Lincoln's Phase I Development. Mr. Peinado shared with the Partnership that at the end of this week, Coppell Business Center I will be 100% leased. The leases range from a 5 year lease to a 10 year lease. Their tenants include the Postal Service and Minolta. Mr. Kuhlmann and Mr. Peinado also shared that some of their tenants' employees were residing in Coppell. They felt that the newness of Coppell, the airport, and being very accessible to the metroplex area attracted their tenants. Chad Beach also provided a handout summarizing the results of the econometric model for this development. After some discussion it was moved by Doug Shaw and seconded by Tim Brancheau that the request by Lincoln Property Company for tax abatement be granted. The motion passed unanimously. Further discussion continued on adding a provision to the tax abatement ordinance stating that all tax abatement be passed to the tenants. It was moved by Ron Pankey and seconded by Pat Murphy to add a provision to the tax abatement ordinance stating that all tax abatement be passed to tenants. The motion passed unanimously. 5. Discuss the status of the plans for the reception honoring area Brokers and Developers Tim Brancheau shared with the Partnership that the details for the reception are underway. The food has been ordered, the invitations have been mailed, and the band has been scheduled. Tim thanked the City Staff for all their help in the arrangements for the reception, including ordering and addressing the invitations. Ron Pankey will be purchasing gift certificates for door prizes. Business Cards from the attendees will be put into a bowl for the drawings. 6. Viewing of Coppell Video and Cost of Purchase Gary Sieb led discussion on purchase cost for the Coppell Video. Gary provided handouts on the GTE Videotape Duplication rates. Some of the suggestions from the Partnership were to charge $10.00 or $25.00. It was also suggested that prospects should not be charged for video, and to make the video available in the library. Jim Witt would like to see an update on our collateral material to resemble that of the Video logo to keep consistency. It was also suggested that the video might take the place of printed materials. It was moved by Tim Brancheau and seconded by Pat Murphy to charge $10.00 for the video and CD -Rom separately and $25.00 for the combination boxed set. The motion passed unanimously. 7. Update on Current & Potential Commercial/Industrial Developments Gary Sieb presented to the Partnership two future developments. One being an office user building along Airline which will employ 800 people. The second development will locate at Sandy Lake Road and 121 Bypass, across from Grapevine Mills. This development will consist of 190,000 sq. ft. and will be for retail. 8. General Discussion on Now to Expand the Responsibilities of Economic Development Ron Pankey made a presentation to the Partnership with graphs showing Commercial and Residential growth from 1992 to present. In 1996 our revenue to the city shows over one million dollars. Ron pointed out that in 1997 our revenue is projected at over two million, a million dollar increase. Ron suggested that the Partnership consider hiring a professional Economic Development Director to help expand the responsibilities of the Partnership. Much discussion followed on the pros and cons of hiring such a person. Jim Witt explained the cost of hiring a professional related to start- up expenses and salary. Chuck Sturges announced that the budget for the next year had already been drafted and thought it too late to budget this person. The partnership continued the discussion and some of the ideas consisted of hiring an Economic Director in about 4 to 5 years for retention of businesses, whereas some felt that it would be beneficial for small businesses and start-up businesses, along with seeking and finding developments that could build in Coppell. It was moved by Tim Brancheau and seconded by Bill Herries that the Partnership keep the Economic Development Director topic open for future discussion. The motion passed unanimously. Ron encouraged the Partnership to have input into this proposal. 9. General Discussion and Other Business With no further business to discuss, it was moved by Tim Brancheau and seconded by Bill Herries that the meeting adjourn. By unanimous vote, the meeting was adjourned at 9:00. • ii1G L 411=L =L&+ VI.L�"E• %.iUZ3COCLi ' 4.11C JAL V2� CMU abae�tent ,r ; , 4� � v � ,tea �-+<.>. �" ,. �� 4 ;-. ' e H ,t�: „S ,,.:r :, ... , p .,..L.•. � s€-. . r - � ."f :nt _ w.. " for' the.` miscommunication ci iDy change of management within the 'Fritz companies. After discussion it was moved by ,.Doug Shaw and `seconded by Bill Herries that.the request by Fritz c Companies, Inc. for tax abatement be denied. The motion' passed unanimously. Mrx ,­_PeL do . s hat ,att#'Ithe end of ,this week, 100% leased. The leases range from a 5 year_„lease to a 10 year lease.T e h i r .. ex�ax�ts_winclude„ the o tal}e ?roe Biu "lta. Mr xuh,man �� -mss-.- $, �•>, e� ; z 7y/ ..,.. n @s�xw'.. Pe nadoF.r:�:Rri' h',+'„ ltd, . ,� ,v,,.:• ar t _ , .,....,. �� �_ , _may^ p thee tyWh:; y l ate they newnees ;. of. oppel., the *'a.rport and beingtery y accessible to the xaetroplex area attracted their be. After some isc a. as move y Doug aw ° a seconded _ by Tim BrAhcheau that the •request by Lincoln, Pro_ perty Company or tax abatement be granted. The mo passed unanimously. Further discussion continued . on taxabatement g to the tenants a d 01 by ' Pat . mu by to `ad �� TAx gt,� The ` tion passed unanimously: _- ! , 9 "�/�"V�/ 7 �' �. ^ 4: v,,x, • ,.. F y”, . 'vF n ,'��T ,�i i 5� �:./ 1 ns gor =tie%onor3 n sta�tue� g 5* p ... p area" �rokers� and airs { z. r r r. =- Tim Brancheau shared Stith the° Partnership that the details for the reception are underway.. The, food ',:has been ordered, the invitations have been mailed, and the band has been scheduled. Tim thanked the City Staff for all their help in the arrangements for the reception, including ordering and addressing the invitations Ron Panke will be purchasing s. g Y p g ft certificates for "door. rites. Business Cards ' from the. p :. attendees wi 11 be {put into a bowl for the drawings* 77 E x- v t,Y a _.,. .. ,.... .tr, F:. ,a . sin.. ,..-4" � ....:.L: 7 ., .;.. ..x - .:. :•.l. ,x.:.. wfi-, ;..li4_... .t ,tPn: k K ,. +.�t. .r. ;4. i ,. .. ,. -.:. ti.k• z : r... ,. wxx .. x.>. aY, +a ,:-.•_.,:..e. ,.x ,-.,..:..'' <v`: <g. ...1. 9.,, 1�.-.=.` - aYx ,fi. �✓;c tF. 6 ., `� e►$ : elf: ,w . s eb , eJ `so r:on. on « uxchase cost for the` CO e].1 s . , Gary. S iw t_ Op - Valeo. Gary prov.ded handouts on the GTE Videotape Duplication rates.` Some of the suggestions from the - Partnership were to charge $10.00 or $25.00. It was also suggested that prospects should not be charged for 'video, and to make the video available n,;the library. Jim Witt „would .like to see an update „en our collaterals matterial to :resale y. ri 'that ©f the Video M.a►gd to keep consistency. It was ft, x:, z: t:. ted that thL 3:deo mi "ht take lace of „ri singes r T. _ .,, 7, ,, i::-� i` �_"��-E '�:� ) ,5.w t isle. It ,was Move? :b dim +Brancheauand 'seconded;b µPat24, lrphy ao charge $1 Q . O;Q f or ' tie 'vi.dea and CD--Rom` separately., °w The motion passed unanimous y. w QLD 4 • F t 7.. Update on current & Potential Commercial/Industrial Developments Gary Sieb presented to the Partnership two future developments. One being an office user building along*Airline' which will employ 800 people. The second development will locate at Sandy Lake Road and 121 BypassD, .,., across from Grapevine Mills. This development will consist of +9V" .MouSnc"S"; sq. ft. and will be for retail.' m se 5 8. General Discussion on NOWto Expand the S Respouw bies . of " Economic Development Ron Pankey made presentation to the Partnership ;with graphsa showing commercial and Residential growth ,; from 1992 = to present. In 1996 our revenue to the city shows over one million dollars. p f4 ":.. ; , ._ is Ran pointed out that in 1997. our. revenue ed at. over two million .,, a million _ do .. .nc .Pr�� t" /C^� �M- � `Ro eft ° s ested `that .tb�e 'Partners ii e, �, rr x c ..Dovelo er to hey. -e and t �� a►� Ali �i � � F-11, . ,c O'M b a a .,w ..: opt p r Partnership Much' discussion `followed an the , arc and ,cpns " of " hiring such a person. Jim Witt explain ed the Dost of hir3,ng a professional related to start-up expenses and" salary. Chuck ` Sturges announced that the budget for the next year had already been drafted and thought it too late to budget this. person. The partnership continued the discussion and some of the ideas consisted of hiring an Economic Developer in"about 4 to 5 years for retention of businesses, whereas ".some felt that it would be beneficial for small businesse and Mart -up businesses, along with seeking and findingde'vlopment that 4 r3x; could build in Coppell It was moved by-i�aneau and seconded by Bill Herries that`` the Ta nor p� _oop the .> EconoMic Developer topic open for future discussion. The motion passed unanimously. Ron encouraged the"Partnership'to_ have input into this proposal. 9. General Discussion and other Business With 'no further business to discuss, it was moved by Tim Brancheau and seconded by Bill Harries that the neetirng adjourn. By unanimous vote, the meeting was ad.14ur4 ned at 9 : Q 0 9 v, COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP Wednesday, September 3, 1997 Meeting Time: 7:00 p.m. (Open to the Public) Meeting Place: 2nd Floor Conference Room Coppell Town Center Notice is hereby given that the Economic Development Partnership will meet in regular session on Wednesday, September 3, 1997 at 7:00 p.m., in the 2nd Floor Conference Room at the Coppell Town Center, 255 Parkway Boulevard, Coppell, Texas. The purpose of the meeting is to consider the following items: Item 1: Call to Order Item 2: Approval of Minutes: August 6, 1997 Item 3: Consideration of Request by Fritz Companies, Inc. for Tax Abatement for a 307,872 s.f. Office/Warehouse Building located on Fritz Drive (Sieb/Beach/Moro) Item 4: Consideration of Request by Lincoln Property Company for Tax Abatement for a 530,800 s. f. Office,Warehouse and Distribution Development consisting of 4 separate buildings located on southwest comer of Beltline Road and Lakeshore Drive (Sieb/Beach/Moro) Item 5: Discuss the status of the plans for the reception honoring area Brokers and Developers (Brancheau/Sieb) Item 6: Viewing of Coppell Video and Cost of Purchase (Sieb) Item 7: Update on Current & Potential Commercial/Industrial Developments (Sieb) Item 8: General Discussion on How to Expand the Responsibilities of Economic Development (Pankey) Item 9: General Discussion and Other Business Adjournment CERTIFICATE I certify that the above notice of meeting was posted at 5:00 p.m. on the bulletin board at the Town Center of the City of Coppell, Texas, on Friday, August 29, 1997. Scarlett Hovland, Senior Administrative Secretary